Bill Ackman on His Investing Playbook, His Bullish and Bearish Bets, and What Could Trigger the Next 2008

Bill Ackman built one of the most closely watched hedge funds on Wall Street; when he speaks, markets move. Literally. Today, he joins Nicole to break down the opportunities he’s seeing in the market, which companies are in his portfolio, and what could trigger the next 2008. Bill walks Nicole through his investing playbook, the biggest mistake new investors make, and whether we’re in an AI bubble. Then, Nicole and Bill play a rapid-fire round of Bullish or Bearish where Bill gives his takes on gold, Bitcoin, Chipotle, Starbucks, T-bills, Trump, and Mamdani. Bill also gets personal about his inheritance plans for his four daughters, what he actually thinks makes someone successful in business, and whether he would run for office. Check out Nicole's financial literacy course⁠ ⁠The Money School⁠⁠ Find a Financial Advisor or Financial Coach from Nicole's company⁠ ⁠Private Wealth Collective⁠⁠ Watch video clips from the pod on⁠ ⁠Money Rehab's Instagram⁠⁠ and⁠ ⁠Nicole Lapin's Instagram⁠⁠ ⁠Follow Bill Ackman⁠ on X Learn about ⁠Pershing Square⁠ Here's what Nicole covers with Bill: 00:00 Are You Ready for Some Money Rehab? 01:14 Bill Ackman on the State of the Economy Right Now 03:00 Who Wins the AI Race: OpenAI vs. Anthropic vs. SpaceX 04:31 Why a Great Business Is Like a Bond 05:56 Is the Stock Market Too Expensive Right Now? 07:01 Where to Put Your First $1,0000 7:39 Inside Pershing Square's 12-15 Stock Portfolio 09:22 Democratizing Hedge Funds with PSUS 10:39 Buying Stocks at a Discount 11:18 Apple's Innovation Problem and Life After the iPhone 12:33 The Best Advice for New Investors 14:06 Are We in an AI Bubble? 16:46 Predicting the Future and the Next Financial Crisis 17:52 Why You Should Never Borrow Against Your Stocks 19:20 Carl Icahn's Billion-Dollar Leverage Cautionary Tale 20:16 The Worst Investing Advice He's Ever Heard 23:00 Fixing the Retirement Crisis 25:48 Bullish or Bearish: Gold, Bitcoin, Chipotle, Starbucks, Trump and Mamdani 33:30 What It's Like When Your Tweets Move Markets 35:15 Would Ackman Ever Run for Mayor of NYC? 38:01 The World He Wants for His Four Daughters (and His Inheritance Plan) 42:25 The Real Formula for Success in Business 44:21 Bill Ackman's Tip You Can Take Straight to the Bank All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments. Learn more about your ad choices. Visit megaphone.fm/adchoices